Ongoing Consequences of Economic and Regulatory Shifts

Key Quotes

"Most stories keep going even after we set down our microphones and the music fades up. That's why, at the end of each year, we look back and we take stock. We call this tradition 'The Rest of the Story.'"

This quote establishes the central premise of the podcast episode, which is to revisit and provide updates on previously reported stories. The Planet Money hosts explain that their reporting doesn't end when the initial broadcast does, and this annual tradition serves to follow up on the individuals and developments they've covered.

"The episode explained why we're all living in this sort of subscription based hellscape at the moment where you know a lot of us are signed up for way more services than we can keep track of and the story started back in the late 90s when this company called Salesforce started offering their software as a subscription service then we explained how silicon valley venture capitalists helped export that model to everything from razors and meal kits to streaming services or you know new features on the tractor you just bought."

This quote summarizes the core issue discussed in one of the revisited stories: the pervasive nature of the subscription economy. The reporter, Alexi Horwitz, highlights how this business model, originating with software companies like Salesforce, has expanded across numerous consumer goods and services, leading to a situation where individuals are often subscribed to more services than they realize or can manage.

"The federal trade commission the ftc had just passed this new regulation called the click to cancel rule. The rule was supposed to require companies to make it just as easy to leave a service as it was to sign up and also it would have put big fines on companies that did not do that. Then two big things happened first president trump announced a new ftc chair named Andrew Ferguson who'd actually voted against passing the click to cancel rule he said it was ideologically motivated and rushed through and second a federal appeals court struck down the rule citing procedural errors."

This passage details the setback for consumer protection regarding subscription services. Alexi Horwitz explains that a new regulation, the "click to cancel" rule, intended to simplify subscription cancellations, was ultimately struck down due to political appointments and procedural challenges. This development left consumers still vulnerable to the difficulties of unsubscribing from services.

"So in lieu of making my own ring um this is actually my parents' engagement ring. I called my mom i told her i wanted to propose and she pulled this thing out for me. Wow the family heirloom is what way better are we invited no."

This quote captures a heartwarming and unexpected turn in the story about the lab-grown diamond. Adam, the man who had emailed Planet Money about the diamond, reveals that he used his parents' engagement ring to propose, rather than purchasing a new one. This highlights a personal and sentimental approach to a significant life event, contrasting with the economic focus of the original report.

"So for context uh a natural diamond like this it would cost 4 to 5 000 this of course is a lab grown diamond it is a real diamond it was just grown in a lab uh and we got it off a chinese his e commerce website back in january for 137 so cheap which of course is game changing for the diamond industry and also why you did the show."

This quote from Jeff Guo provides crucial context for the diamond story update. Guo explains the significant price disparity between natural and lab-grown diamonds, noting that the lab-grown diamond he purchased for $137 would have cost thousands if it were natural. This stark difference underscores the economic disruption that lab-grown diamonds represent for the traditional diamond industry.

"The money become hurts and destroyed so when you'll offer it to uh uh seller they don't accept it it become nothing you know become worthless that's muhammad awad who was in gaza."

This quote from Muhammad Awad vividly describes the physical deterioration of currency in Gaza. Awad explains that the existing cash had become so damaged and worthless that sellers would no longer accept it. This illustrates the severe practical impact of the money shortage and the breakdown of economic infrastructure in the region.

"Well over 10 000 fingers now 10 000 fingers yeah yeah fingers get saved on sawstops every day now and if i remember correctly right this saw can can sense when it skims a finger and stops so fast that it does not cut your finger."

This update from the story about Steve Gass and his safer table saw reveals the significant impact of his invention. Gass reports that his SawStop technology has saved over 10,000 fingers. This statistic quantifies the effectiveness of his safety innovation, which quickly stops the blade upon detecting contact with skin, preventing serious injury.

"He said he's not going to let it get him down too much he says he recognizes that this is just one of many anti regulation steps that the trump administration is taking and he's trying to bring a new product to market a safer band saw in the hopes that people will just pay for safety a market based solution we love it when that works."

This quote summarizes Steve Gass's response to the failure of his lobbying efforts for mandatory table saw safety regulations. Despite his disappointment, Gass is shifting his focus to developing a safer band saw, aiming for a market-driven solution where consumers voluntarily choose safety. The reporter notes this approach, highlighting the ongoing tension between regulation and market forces in product safety.